A Market Response To Eminent Domain

BB&T, the country's ninth-largest bank, announces that it will not make commercial loans to developers who plan private projects on land seized via eminent domain.

" 'The idea that a citizen's property can be taken by the government solely for private use is extremely misguided, in fact, it's just plain wrong,' said John Allison, the chairman and chief executive of BB&T.

...Analysts said they were not surprised that BB&T, the country's ninth-largest bank, would take such a public stance but doubted that it would set a precedent for other banks.

BB&T's decision comes seven months after the U.S. Supreme Court said in a 5-4 ruling that state legislatures could pass eminent-domain legislation affecting private property. The legislation could allow local governments to seize private property to make room for private-development projects aimed at creating jobs and increasing tax revenues."

Thanks to Tom Roberts

Full Story: BB&T opposes seizing land for private use

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $16.95 a month
T-shirt with map of Chicago

Show your city pride

Men's Ultrasoft CityFabric© tees. Six cities available.
$23.00
Woman wearing city map tote bag

City Shoulder Totes - New Cities Added!

Durable CityFabric© shoulder tote bags available from 7 different cities.
$22.00